Articles in category: Financial

We're told scammers are calling people and displaying the national Social Security Administration Customer Service Number.They ask for personal information.In some cases, they say your social security number is at risk.The SSA reminds you to never give out personal information over the phone.If you've received a call like this, you can report the information.You can call the Office of the Inspector General at 1-800-269-0271 or online at oig.ssa.gov/report.

In the next 2 years there's unlikely to be any real progress made in the health care legislation coming out of Congress. Democrats are hitting a wall on Medicare, shockingly agreeing with "the other side."

Federal Workers Beware! Suze Orman, the top female financial guru says during this "emergency situation where people are being held hostage by the US government. To survive she advises the best thing you can do is be aware of your options, but what are those really.

If you are in your 50s or older and have little if anything saved for retirement, well you are not alone. Financial planners say they are increasingly dealing with clients who are middle-aged and older with only paltry savings squeezed between helping college-age children get a start in life and caring for elderly parents.

2019 comes with new retirement plans, for small business owner, you should know that you have several tax-advantaged savings plans at your disposal that allow you to sock away substantial funds for your golden years.

Then, suddenly, you hit your late 50s or early 60s and you realize, almost without being aware of it, that you’ve begun paying closer attention to those commercials about annuities, reverse mortgages and Medicare Part B, and you’re no longer reflexively tossing those AARP mailings straight into the trash.

December 31, 2018 For many Americans, 2018 was the year that health care reached a breaking point. Insurance was still too expensive to buy. It didn’t cover nearly enough. And as the country’s politics festered, the government once again failed to solve the insurance conundrum, even as a large majority of Americans who flocked to voting booths said health care was their top concern.

One theme that came up over and over again was that this is a problem reaching far higher into the economic spectrum than we first thought. Many of the more than 100 people we interviewed over the year had incomes of $100,000 or more. These were comfortable families, from outside. Yet, when they opened up their books to us, it became clear how much they needed to stretch to afford health care.

Local experts warned area consumers not to rush decisions that could put their pockets at risk in order to fulfill New Year’s resolutions. The result can be money lost, whether through scams or companies that don’t disclose all the details on deals targeting people looking to lose weight or improve their finances. One of the biggest scams to beware of is free trials, said John North, president and CEO of the Miami Valley Better Business Bureau.

Democrats, Democratic Socialists, and progressives continue to advocate for “Medicare for All” government-run health care program; however, there remain several obstacles facing such a utopian program. Here are five things the left, the media, and the establishment did not tell you about Medicare for All. $32-$38 TRILLION dollar cost.

When ringing in a new year, many people resolve to be better organized or improve how they manage their finances. "On January 1st, you should be waking up thinking, 'What is my overall game plan for this year?' " We suggests developing a road map for this year's financial journey. After all, the start of a new year is a great time to assess your financial situation and make plans to improve it.

To make that easier, this calendar highlights the critical dates that are pertinent to preretirees and retirees for 2019, covering categories such as taxes and health care. Miss a deadline, and it could sock your finances. So print out these pages and post them on your fridge, or set reminders on an online calendar to avoid forgetting a crucial deadline.

Social Security is our nation's most important social program. Each month, nearly 63 million people receive a traditional Social Security benefit check (i.e., not including Supplemental Security Income), of which roughly 70% are retired workers. Of these aged beneficiaries, more than 3 out of 5 are reliant on Social Security for at least half of their income. Without this program and the guaranteed income it provides to eligible beneficiaries, the elderly poverty rate would likely soar.

If you're planning to make New Year's resolutions for 2019, there's a good chance at least one of them will be related to your finances. Money management issues like big credit card bills or a small savings account balance may be more top of mind on a day-to-day basis, but the beginning of a new year is a great time to tackle more long-term goals like retirement. Here are some retirement-related action steps to consider resolving to do next year: 1) Contribute to a Roth IRA.

This Christmas, Austin Frakt gifted New York Times readers with a superlative precis of the health spending burden that faces elderly Americans [1]. Prof. Frakt--who writes far more succinctly and clearly than one might ever expect from a health economist--points out that half of lifetime health spending occurs after reaching the age of 65. This chart from my book amplifies this point, showing how health costs rise rather persistently through retirement years. Fig.

If you’re making New Year’s resolutions, here’s one for the top of your list: I won’t complain about a surprise tax bill or lower refund if I neglected to check my withholding. The 2017 tax overhaul made major changes to the code, such as limiting the deduction for state and local taxes and greatly expanding the tax credit for children under 17. The Treasury Department required employers and pension payers to lower withholding for 2018.

The IRS recently warned that the number of filers who owe tax or penalties for 2018 is likely to be larger than in recent years, adding that “many of them are likely to be people who have always gotten refunds.”

While people may disagree about the appropriate amount of retirement savings or the ideal spending rate in retirement, there's one fact everyone can agree on: Retirement is expensive. Getting an early start on savings can help to ease the pain, but there are also strategies that reduce the amount of money you'll need in retirement. Here are four smart ways to cut costs to prepare for your golden years. 1. Downsize or move to a more affordable area.